Bitcoin’s back above $94K: Is the BTC bull run back on?
Bitcoin reclaimed $94,000, restoring short-term bullish momentum despite muted liquidity indicators ahead of the FOMC meeting.Summary
Bitcoin has pushed back above $94,000, signaling a return to short-term bullish control after several days of consolidation near $93,000 while the market awaited the FOMC meeting. This move cleared a previous resistance level and invalidated hesitation seen on the four-hour chart, suggesting renewed strength.
However, underlying liquidity indicators raise caution; the bid-ask ratio remains low and inconsistent, indicating that buyers are stepping in but not with the heavy commitment typical of strong uptrends. While the Coinbase Premium Index shows positive sentiment among US investors, the Korea Premium Index has cooled significantly, suggesting retail speculation is not yet fully engaged.
For the uptrend to be confirmed, Bitcoin needs to sustain a hold above the monthly VWAP following the FOMC announcement. Currently, price strength is outpacing depth strength, leaving the sustainability of the rally somewhat uncertain.
(Source：Cointelegraph)